Commonly referred to co-working spaces, or shared offices are becoming widely popular for small startup business and or independent contractors all over the US. There are a huge number of benefits to moving to a co-working space.
Co-Working spaces are substantially cheaper than a typical office space without the ball and chain of signing a lease. You could pay hourly for a conference room, or you could decide to get a monthly subscription to a facility. Usually the monthly subscriptions are tiered and all the facilities are different but an example would be:
Sample Pricing for Co-Working
Co-working spaces are just that, they’re co-inhabited by maybe your own colleagues along with strangers with no relation to your current job/project etc. Depending on your work style this could count as a huge Pro or a huge Con. If you are looking to be inspired, or to bounce some of your ideas off a fresh mind, being in a shared environment. If you require complete silence and privacy you will be looking to rent out a more independent office situation.
You had me at snacks…most of these places are going to provide you with not only coffee but snacks! As if that is not enough, depending on the facility you can find one or more of the following amenities:
Most of added benefits are usually bundled into cost for the rental or membership.
If you are trying to decide if moving to a shared office will work for you and or your company, there are a few things to consider.
- Population size of your business
- Do you work fixed or flexible hours?
- Current faculty situation (are you currently in a long/short term lease?)
- Potential atmosphere of the shared office
- Location, cost, etc.
- Long term goals
- Will your employees be open to the move
- What comes bundled with the rent? Internet? Printers? Breakroom?
Is Co-Working Right for You and Your Company?
You can use this flowchart to help guide you through the decision making process:
If you decide that a Co-Working environment is right for you, it’s time to start searching. If you are not familiar with it, the terminology can be a bit confusing at first. Here are some common phrases you may run into while researching:
- Hot Desk(ing) – a work space sharing model in which the employees outnumber
- Dedicated Desk-a workstation that is only yours, you can leave your belongings there and usually have the ability store things in a secured environment.
- Shared (Desk or Workstation) – workspace environment meant more for a single person or a very small group of 2-3 people. This means you will be in close quarters with random people.
- Hub– workspaces designed for small businesses that are just getting started.